Mubasher TV
Contact Us Advertising   العربية

ADIA declines to comment on borrowing EUR 1.7bn to finance deal

ADIA declines to comment on borrowing EUR 1.7bn to finance deal
Photo Credit: Arabianeye-Reuters

 

By: Ramy Sameeh

Abu Dhabi – Mubasher:

Erik Portanger, head of media relations, corporate communications and public affairs at the Abu Dhabi Investment Authority (ADIA), declined to comment on news that the authority seeks to borrow EUR 1.7 billion to finance a deal to purchase shopping development chain portfolio for the Irish Dundrum Town Centre.

“ADIA has no comment on such rumours,” Portanger told Mubasher on Monday.

The Sunday Times reported that ADIA was planning to borrow EUR 1.7 billion for the purchase deal of the Irish shopping chain. Ireland’s National Asset Management Agency (Nama) is set to receive bids for the first phase of the sale known as Project Jewel in the coming weeks, the newspaper added on Sunday.

Established in 1976, ADIA is a sovereign wealth fund affiliated to the Abu Dhabi government and works through investing the government’s surplus from oil exports in a variety of low-risk assets. It is the second largest sovereign wealth fund in the world, after the Norway’s Government Pension Fund – Global.

Translated by: Nada Adel Sobhi